the Owners are going to give to the Players.

November 29, 2011

LeBron James basketball shoesThe deal: Largely completed around 3 a.m. EST Saturday, then announced. More details still must be tackled including dismissing all pending lawsuits, making the National Basketball Players Association f an actual union again and voting by both the players and owners to ratify the agreement. Owners’ biggest win: Reducing the players’ guarantee of basketball-related income to no higher than 51 percent after they received 57 percent under the previous collective bargaining agreement. With each BRI point worth about $40 million based on last season’s revenues, that’s a swing of at least $240 million annually, erasing most of what owners said were $300 million in losses last season. Owners’ biggest loss: The NFL style hard cap and non-guaranteed contracts they sought. The system is in fact similar to the old one, just with harsher luxury tax penalties to limit spending. Tells us what you think of the New NBA Champions – Congratulations to the MIAMI HEAT! NEW YORK — There is still no deal after another marathon negotiating session between NBA players and owners. But there is another deadline set by commissioner David Stern. Thursday’s 11-hour meeting ended with the league giving players a choice: accept a revised offer on the table by the middle of next week or see that offer pulled and replaced with a new one — the harsh one Stern threatened to whip out earlier in the week. Owners and union officials reached agreement to end the 149-day lockout on Saturday following a marathon bargaining session. Players must still approve the deal, and once they do, training camps and free agency will open simultaneously on Dec. 9. The plan is for a 66-game season to begin on Christmas Day. MIAMI (AP) — No, the NBA lockout is not over. Not yet, but soon — once owners and players approve the deal that would have NBA games resume on Christmas Day. Here’s a look at some of the most prevalent questions about the state of things in the league right now.